Deals
China's Cindat Is Said to Join $660 Million QHotels Purchase
- Cindat negotiating joint purchase with U.K. investor Aprirose
- Bain Capital, Canyon Partners selling four-star hotel group
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China’s Cindat Capital Management is joining an acquisition of QHotels Group valuing the U.K. hospitality company at more than 500 million pounds ($660 million), people with knowledge of the matter said.
Cindat, which focuses on overseas property deals, is negotiating a joint purchase of QHotels with U.K. investment firm Aprirose, according to the people, who asked not to be identified because the information is private. Aprirose, which was previously pursuing the acquisition on its own, now plans to take a 50 percent stake in QHotels while Beijing-based Cindat would hold the remainder, the people said.